by Sunil Srivastava | Jul 19, 2024 | SNP Finserv
1.Lower Interest Rates: LAP generally offers lower interest rates compared to unsecured loans like personal loans or credit cards. This is because the loan is secured against the property, which reduces the risk for the lender. 2.Higher Loan Amounts: Since LAP is...
by Sunil Srivastava | Jul 5, 2024 | SNP Finserv
Not Comparing Interest Rates: Explain the importance of shopping around and comparing interest rates from different lenders. Discuss how even a small difference in interest rates can significantly impact the total cost of the loan. Ignoring Fees and Charges: Highlight...
by Sunil Srivastava | Jun 7, 2024 | SNP Finserv
Financing Day-to-Day Operations: Discuss the need for consistent cash flow to cover expenses like payroll, supplier payments, and other short-term obligations. Explain how working capital loans can bridge gaps in cash flow and ensure operational continuity. Funding...
by Sunil Srivastava | May 29, 2024 | SNP Finserv
1.Check your credit score:Your credit score is a key factor in determining the interest rate and terms of your car loan. Review your credit report and address any errors or issues before applying. 2.Determine your budget:Figure out how much you can realistically...
by Sunil Srivastava | May 24, 2024 | SNP Finserv
1.Debt-to-Income Ratio: Lenders typically look at your debt-to-income (DTI) ratio, which is the percentage of your gross monthly income that goes towards debt payments. Most lenders prefer a DTI ratio of 28-33% for the mortgage payment, and a total DTI ratio of 60% or...
by Sunil Srivastava | May 20, 2024 | SNP Finserv
Credit Score and History: A higher credit score and a strong credit history demonstrate lower risk to the lender, which can result in a lower interest rate. Businesses with poor credit scores or a history of missed payments may be seen as higher risk, leading to...
